Common use of Continuing security and other matters Clause in Contracts

Continuing security and other matters. 11.1 This Pledge shall be a continuing .security for the payment of the Secured Obligations and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations (or by any settlement in respect of the Secured Obligations). 11.2 All rights, remedies and powers vested in the Pledgee under this Agreement shall be in addition to and not a limitation of and shall not in any way be prejudiced or affected by, or prejudice or affect, any and every other right, power or remedy vested in the Pledgee under the Security Documents, under any (other) present or future collateral instruments or at law and all the powers so vested in the Pledgee may be exercised from time to time and as often as the Pledgee may deem expedient. 11.3 Any modification, amendment, release or waiver of any of the terms and conditions of any of the Security Documents (including an increase of the Loan or an extension of time) or any documentation guaranteeing or securing the Secured Obligations, shall not in any way discharge or otherwise prejudice or affect the Pledge and any of the rights of the Pledgee under this Agreement, unless explicitly provided otherwise in the Security Documents. 11.4 It is the intention of the parties hereto that the Secured Obligations shall be secured by the Pledge and that in the event of an assignment or transfer by the Security Agent of its rights and obligations under the Parallel Debt, the Secured Obligations will continue to be secured by this Pledge.

Continuing security and other matters. 11.1 This Pledge shall be a continuing .security security for the payment of the Secured Obligations and the security so created shall not be satisfied by any intermediate payment or satisfaction of any part of the Secured Obligations (or by any settlement in respect of the Secured Obligations). 11.2 All rights, remedies and powers vested in the Pledgee under this Agreement shall be in addition to and not a limitation of and shall not in any way be prejudiced or affected by, or prejudice or affect, any and every other right, power or remedy vested in the Pledgee under the Security Documents, under any (other) present or future collateral instruments or at law and all the powers so vested in the Pledgee may be exercised from time to time and as often as the Pledgee may deem expedient. 11.3 Any modification, amendment, release or waiver of any of the terms and conditions of any of the Security Documents (including an increase of the Loan or an extension of time) or any documentation guaranteeing or securing the Secured Obligations, shall not in any way discharge or otherwise prejudice or affect the Pledge and any of the rights of the Pledgee under this Agreement, unless explicitly provided otherwise in the Security Documents. 11.4 It is the intention of the parties hereto that the Secured Obligations shall be secured by the Pledge and that in the event of an assignment or transfer by the Security Agent of its rights and obligations under the Parallel Debt, the Secured Obligations will continue to be secured by this Pledge.